We all think that we will never be broke, but life has proven that bankruptcy can happen even to the best of us. No matter how frugal you are, no matter how carefully you treat every cent you have, chances are you will experience the following situation at some point in your life. Imagine that you are left without a dollar just a few days before your next paycheck is expected to arrive. What can you do to save yourself in a situation like this one? Turning to one of the many indirect or direct payday loan lenders may not be your first impulse. At first you may try to get the necessary money from your friends or family members. This is likely to feel rather embarrassing, especially if you have already borrowed money from them in the past. If you do not find anybody with some spare cash, you might decide to go to the nearest bank for a cash advance. The truth is that a typical bank takes up to three or five business days to process a loan request. This is when you will start thinking of applying to indirect or direct lenders for payday loans. If you want to get a good deal and really solve your financial problems without making them worse, keep the following in mind.
There is not much you need to know about indirect and direct payday loan lenders. These two types of lenders are divided because of the differences in the ways they work with their clients. An indirect payday loan lender functions more like a loan broker. When you work with an indirect lender, the request you submit is forwarded to many different loan lenders. Good indirect loan dealers have large networks of well tested dealers. The biggest advantage of dealing with a loan broker is that you have high chances of finding a really good deal. With direct payday loan lenders the responsibility of finding the best possible deal lies on you. In order to find an appropriate offer you will have to conduct a lot of research of the vast market of payday loans. You will have to filter through hundreds of different offers before finding the most suitable one. Remember that many of the offers you will come across are fake. True, it may be really hard if you are new to this field but there is one important advantage of working with payday loan direct lenders. Their services are cheaper than the ones offered by indirect payday loan lenders. It can be easily explained: direct payday loan lenders do not involved any third parties in the process of giving you a payday loan. When you choose your direct loan dealer, you send the loan application directly to them and you receive the money directly from them. Indirect loan lenders, on the contrary, have to be paid for their services as intermediaries in the loan giving process. They perform an important function of locating the best offer for you and naturally they would like to be paid for it. This is why working with a payday loans direct lender is much cheaper than working with a broker. Note that working with a direct payday loan lenders is also much quicker and easier. Since the money comes directly from the lender to your account, you can count on getting the money really quickly. Usually it takes about a few hours. Plus the requirements for getting a direct loan are quite simple. You need to be older than 18 years old, you need to have a valid checking account and you need to have a stable job with sufficient monthly salary.